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Other Papers on :Government Intervention and Market System

P/E/333. Keynesian theory: influence on world economies and critique

(2006, 2000 words)

The paper offers the critique of Keyness theory of capitalist markets that denies the role of governments in stimulating the economy. The influence of the Keynesian theory on the post-war non-communist world is discussed; related theories on inflation and unemployment are reviewed including the Phillips Curve (PC); the monetarist doctrine by Milton Friedman, the ideas of Epstein and Schor, etc.
 
   
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